Middle East: Silicon Market 2024

Silicon Market Size in the Middle East

In 2022, the Middle Eastern silicon market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate buoyant growth. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Silicon Production in the Middle East

In value terms, silicon production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Silicon Exports

Exports in the Middle East

Silicon exports reduced markedly to X tons in 2022, with a decrease of X% compared with the previous year's figure. Overall, exports, however, posted a temperate expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then reduced dramatically in the following year.

In value terms, silicon exports reduced notably to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

Turkey represented the major exporting country with an export of around X tons, which recorded X% of total exports. Jordan (X tons) held the second position in the ranking, distantly followed by Oman (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons). All these countries together took near X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Oman (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Jordan (X p.p.), Oman (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) emerged as the largest silicon supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Jordan ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: Jordan (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Silicon Imports

Imports in the Middle East

In 2022, the amount of silicon imported in the Middle East expanded slightly to X tons, rising by X% on 2021 figures. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, silicon imports soared to $X in 2022. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

The United Arab Emirates was the key importer of silicon in the Middle East, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Bahrain (X tons) took the second position in the ranking, followed by Qatar (X tons) and Turkey (X tons). All these countries together held approx. X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the silicon imports, with a CAGR of X% from 2012 to 2022. At the same time, Bahrain (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Qatar (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (X p.p.) and Qatar (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported silicon in the Middle East, comprising X% of total imports. The second position in the ranking was held by Bahrain ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, silicon imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price recorded moderate growth. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Turkey ($X per ton) and Bahrain ($X per ton), while Qatar ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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